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Indicators

Kirshenbaum bands - indicator for MetaTrader 5

Mladen Rakic
Views:
8407
Rating:
(13)
Published:
2019.01.25 14:13
Updated:
2019.01.25 14:14
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Theory :

The Kirshenbaum Bands were authored by Paul Kirshenbaum. Their range is based on standard error as calculated from a hypothetical linear regression line. This range is added to and subtracted from an exponential moving average of the price to produce a top and a bottom band. 

As a deviation from the original, you can chose one of the 4 types of average to sue instead of using just EMA. Averages that can be used are :

  • simple moving average
  • exponential moving average
  • smoothed moving average
  • linear weighted moving average

Usage :

It can be used in a similar way as Bollinger bands


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